M&A Deal Summary

PaperWorks Industries Acquires Color Craft Graphic Arts

On November 12, 2025, PaperWorks Industries acquired business services company Color Craft Graphic Arts from First Capital Partners

Acquisition Highlights
  • This is PaperWorks Industries’ 1st transaction in the Business Services sector.
  • This is PaperWorks Industries’ 4th transaction in the United States.
  • This is PaperWorks Industries’ 1st transaction in Wisconsin.

M&A Deal Summary

Date 2025-11-12
Target Color Craft Graphic Arts
Sector Business Services
Buyer(s) PaperWorks Industries
Sellers(s) First Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Mesirow Financial (Financial)

Target

Color Craft Graphic Arts

Manitowoc, Wisconsin, United States
Color Craft Graphic Arts is a folding carton company specialising in providing paperboard and printing services. Color Craft Graphic Arts designs, makes dies, prints, die-cuts, glues, and ships warehouse projects, all in-house at their Manitowoc plant. Providing print runs from 500 to 5 million, they can help with pre-press all the way to delivery. Color Craft Graphic Arts was founded in 1929 and is based in Manitowoc, Wisconsin.

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Buyer(S) 1

Buyer

PaperWorks Industries

Fort Washington, Pennsylvania, United States

Category Company
Founded 2008
Sector Packaging
Employees1,700
Revenue 600M USD (2014)
DESCRIPTION

PaperWorks Industries is an integrated full-service provider of recycled paperboard and specialized folding cartons for packaging applications. PaperWorks was formed in 2008 and is based in Fort Washington, Pennsylvania.


DEAL STATS #
Overall 5 of 5
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
State: Wisconsin M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 Standard Group

Jeffersontown, Kentucky, United States

Standard Group is a converter of custom printed paperboard packaging. Standard Group was founded in 1932 and is based in Jeffersontown, Kentucky.

Buy -

Seller(S) 1

SELLER

First Capital Partners

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 241M USD
Size Small
Type Sector Agnostic
DESCRIPTION

First Capital Partners is an Omaha, Nebraska-based private investment firm that provides equity and subordinated debt financing to lower middle-market companies. First targets businesses with revenues of $10 to $100 million and EBITDA up to $10 million. Investments are generally used to fund management buyouts, growth capital financings, recapitalizations, divestitures, and generational transfers of ownership. Broad areas of interest include manufacturing, business services, and value-added distribution. First Capital will not invest in startups, early stage companies, high technology, real estate, or retail. First Capital Partners is based in US.


DEAL STATS #
Overall 17 of 17
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 10 of 10
State: Wisconsin M&A 5 of 5
Country: United States M&A 17 of 17
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-02 Dakotaland Autoglass

Aberdeen, South Dakota, United States

Dakotaland Autoglass is a regional distributor and service provider to the aftermarket automotive replacement glass and paint, body & equipment ("PBE") industries. Dakotaland Autoglass is based in Aberdeen, South Dakota.

Sell -